Representatives from Caixa Econômica and the Caixa Seguridade Participações SA unit, as well as the so-called underwriters are scheduled to meet in Brasilia at around 11 a.m. local time (1400 GMT) on Monday to discuss the deal, said the source, who requested anonymity since the plans remain private.

According to the source, in the case the National Treasury, which fully owns Caixa Econômica, seeks to proceed with the sale, the underwriters will propose launching the deal as soon as possible although under "great execution risks and the probability of a rather large discount." (Reporting by Guillermo Parra-Bernal)